Torquay leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in Torquay. Before diving in I would like to find out the unexpired term of the lease.
Assuming the lease is registered - and 99.9% are in Torquay - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am hoping to exchange soon on a leasehold property in Torquay. Conveyancing lawyers have said that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Torquay should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
Back In 2008, I bought a leasehold house in Torquay. Conveyancing and Godiva Mortgages Ltd mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Torquay who acted for me is not around.What should I do?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Torquay conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you offer any advice when it comes to finding a Torquay conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Torquay conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Torquay conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:
- How many lease extensions has the firm carried out in Torquay in the last twenty four months?
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £150000 flat in Torquay in nine days. The management company has quoted £396 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Torquay?
For most leasehold sales in Torquay conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing conveyancing due diligence enquiries
- Where consent is required before sale in Torquay
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Torquay Leasehold Conveyancing - Sample of Questions you should ask before buying
Is there a share of the freehold?
It is important to be aware whether redecorating or some other significant cost is due in the near future to be shared by the leaseholders and will dramatically increase the the service charges or result in a one time invoice.
The majority of Torquay leasehold apartments will be liable to pay a service charge for maintenance of the block invoiced by the freeholder. Where you purchase the property you will have to meet this amount, usually periodically during the year. This can be anything from a few hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a rentcharge for you to pay annual, ordinarily this is not a exorbitant sum, say approximately £50-£100 but you should to enquire as sometimes it could be prohibitively expensive.